Insurers along the East Coast are bracing for potentially the largest winter storm seen in several years. While insurers stand prepared, the storm could cause winter storm losses this year to go beyond the uncharacteristically low figures experienced recently.
“Certainly, there is the potential for some very significant claims—certainly in the Boston area. If there are power outages, that leads to business interruptions, travel cancellations,” says Howard Mills, director and chief advisor, Insurance Industry Group, Deloitte LLP. “But the industry remains very well-capitalized, well-positioned to absorb the impact of the storm.”
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